One of my favorite designers, London-based Sophia Kokosalaki, will now be taking the creative reigns at Diesel’s Black Gold line. The high-end contemporary line is positioned above the Diesel and Diesel Denim Gallery, and debuted during New York Fashion Week in February 2008.

While Kokosalaki’s title and start date are yet to be revealed, the Greek designer has also recently acquired her much-lauded namesake company from Only the Brave, which she started in 1999, and she will continue to work on the line. In fact, the designer is facing an exciting year as she celebrates her label’s 10 year anniversary.

All of Kokosalaki’s fashion shows are inevitably packed with the publishing world’s A-list. She has also dressed such stars as Gwyneth Paltrow, Kate Hudson, Cameron Diaz, Keira Knightley, Lou Doillon, and Anne Hathaway. The designer will be celebrating her decade-long namesake fashion label by featuring ten of her most iconic designs at her Fall/Winter 2010 show during Paris Fashion Week. Each design featured in the runway show will be one of her F/W collections from a different season. The ten pieces will be recreated as limited edition outfits.

As for Diesel, Renzo Rosso, the chairman of Diesel and Only the Brave (Diesel’s holding company), said that the designer is an incredible talent, and that while her talent in the arena of high fashion is already widely known, “what people do not necessarily expect from her is her skill in dealing with denim and contemporary casual, the core of Diesel Black Gold. I hope this experience will give her the possibility to further affirm her place in today’s international fashion scenario.”

For her part, the Greek designer noted that this is a very fortuitous time for her and her business – and given the economy – we can’t help but concur, and look forward to what she will do for Diesel.